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BUY HDFC LTD
TARGET: Rs 3,040
STOP LOSS: Rs 2,800
HDFC LTD has been trading with a positive bias at its lifetime high zone. On technical parameters, the stock is in a secular uptrend and is hovering above all its major exponential moving averages indicating inherent strength. On the oscillator front, MACD is placed well above the signal line post positive crossover affirming the bullish stance. From the risk-reward point of view, the stock is placed in a lucrative zone and could be seen gains from a short to medium-term perspective.
BUY L&T TECHNOLOGY SERVICES LTD (LTTS)
TARGET: Rs 4,960
STOP LOSS: Rs 4,420
LTTS is in a secular uptrend and is hovering above all its major exponential moving averages on the daily time frame indicating inherent strength in the counter. The stock seems to have taked support near 23.60 percent of Fibonacci retracement of the recent rally and at the same time, the lower band of Bollinger also provided a strong support zone, and shoved the stock towards the mean indicating an up move in the counter. Hence, looking at the technical setup and risk-reward ratio, the stock could be accumulated from a short to mid-term perspective.
Osho Krishan is senior manager – Equity Research at Anand Rathi Shares & Stock Brokers. Views are personal.
